BusinessHABTypical Tortilla Market Startup :Our guide on starting a Tortilla shop covers all the essential information to help you.
Decide if this business is a good match for you.
Learn about the day-to-day activities of a Tortilla shop owner,
The typical target market, growth potential, startup costs, legal considerations, and more!
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Typical Tortilla Market Startup
1. Business Background
Bagels are a classic breakfast food that became famous in New York City but are now enjoyed throughout the country.
A bagel shop business provides bagels, which are a convenient,
Tasty and filling meal, to patrons for breakfast and lunch.
In addition to bagels, most bagel shops also have beverages and sides,
So customers can get a complete meal quickly.
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Menu Items in Nigeria
Typical Tortilla Market Startup
2. Know the Right Person for the Business
Anyone who is passionate about food and enjoys serving other people may be well-suited for opening a bagel shop business.
The business involves lots of hands-on work making bagels and brewing coffee,
And business owners are regularly serving and interacting with customers.
Because bagels are mainly eaten for breakfast and lunch,
Bagel shops are open during the morning and, sometimes, early afternoon.
Owners should be prepared to work almost every morning,
Although they may close one day a week so they can have a day off.
Additionally, many owners close their businesses for holidays.
Typical Tortilla Market Startup
3. Know the Business Activities
A bagel shop business owner starts their day in the early morning making bagels,
Brewing coffee and preparing other food items.
As the morning progresses, business picks up
And business owners transition from prepping foods and drinks to serving customers.
As business slows later in the day, work usually focuses on cleaning.
And getting ready for the next day (although any customers that come in while the business is open are still served).
Typical Tortilla Market Startup
4. Know the Targeted Market
An ideal customer for a bagel shop business is someone who eats breakfast but doesn’t have much time.
Bagels are a quick, satisfying food.
Bagel shops often appeal to both people with lots of discretionary income and those on tighter budgets, because bagels are relatively inexpensive.
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Food Wastage in Nigeria
Typical Tortilla Market Startup
5. Learn How to Make Money
A bagel shop business makes money by selling bagels, other food items and beverages to customers. Some businesses may also cater events.
6. Get the Growth Potential for the Business
A bagel shop business can be as small as a single location or as big as a national chain.
Many successful bagel shops are regional, having a few locations in a particular area.
Typical Tortilla Market Startup
7. Get the Skills and Experiences
Bagel business owners should, first and foremost, know how to make bagels.
Many companies sell bagels wholesale that can be baked in-store, which is relatively easy to do.
Business owners that want to bake their own bagels,
However, should take a bagel-making course to learn the craft.
There are many companies that offer short classes on bagel making.
Sour Flour and the International Culinary Center are two companies that hold workshops.
Business owners should also be familiar with how to manage their workflow and employees.
Visiting other bagel shops and observing how they run their operations is a free way to get some insights.
Bagel shop owners in other cities may be willing to sit down and talk,
As a bagel shop in a different city won’t create competition for them.
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DELI BUSINESS
Typical Tortilla Market Startup
8. Know the Costs Involved in Opening the Business
The startup costs for a bagel shop usually total tens of thousands of dollars.
Some of the largest expenses include rent, equipment costs and employee salaries (if hiring employees).
Other expenses include bagel-making supplies, expenses for other foods and beverages,
Supplies to put bagels in and cups.
Business owners who want to keep their startup costs minimal can find a small retail location so their rent is lower.
A small location will also make it easier to grab items for customers, s
So business owners may be able to do all the work themselves and might not need to hire an employee.
Purchasing used equipment, which costs substantially less than new, can also provide significant savings.
Typical Tortilla Market Startup
9. Get the Needed Steps
Once you’re ready to start your bagel shop,
Follow these steps to ensure that your business is legally compliant and avoid wasting time and money as your business grows:
- Plan your business. A clear plan is essential for success as an entrepreneur. A few important topics to consider are your initial costs, your target market, and how long it will take you to break even.
- Form a legal entity. Establishing a legal business entity prevents you from being personally liable if your bagel shop is sued.
- Register for taxes. You will need to register for a variety of state and federal taxes before you can open for business.
- Open a business bank account. A dedicated checking account for your bagel shop keeps your finances organized and makes your business appear more professional to your customers.
- Set up business accounting. Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.
- Obtain necessary permits and licenses. Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.
- Get business insurance. Insurance is highly recommended for all business owners. If you hire employees, workers compensation insurance may be a legal requirement in your state.
- Define your brand. Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.
- Establish a web presence. A business website allows customers to learn more about your company and the products or services you offer. You can also use social media to attract new clients or customers.
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Business in Nigeria
Typical Tortilla Market Startup
10. Get a Business Mentor
One of the greatest resources an entrepreneur can have is quality mentorship.
As you start planning your business, connect with a free business resource near you to get the help you need.
Having a support network in place to turn to during tough times is a major factor of success for new business owners.
Typical Tortilla Market Startup
11. Learn on How to Promote & Market Your Business
All marketing efforts should be focused on residents, workers
And commuters who are in the area that a bagel shop serves, which can be fairly small.
Signs help draw attention to a business.
To get people in the door initially, business owners can go to nearby businesses
With coupons for free bagels or coffee.
Giving away free items will encourage people to visit,
And word will quickly spread if people like what they have.
Typical Tortilla Market Startup
12. Learn on How to Keep Customers Coming Back
A bagel shop business can set itself apart by making authentic bagels.
Many places, including coffee shops, grocery stores and diners, offer bagels.
These are often frozen products that are thawed, though.
A fresh-baked bagel will taste much better, and many people will specifically seek out great bagels.
For this reason, business owners should take a bagel-making course.
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Tips in Nigeria
Typical Tortilla Market Startup
13. Learn on How And When to Build a Team
A small bagel shop business can be run with just one person, but it involves a lot of work.
As soon as possible, at least one employee should be hired.
To help expedite service during busy hours and relieve the owner of some day-to-day duties.
The next person hired is usually someone who can bake, although they may also perform other duties.
Once a baker is hired and trained, the owner can take an occasional day off.
Depending on how big and busy a bagel shop is, it may be necessary to hire additional employees.
A bagel shop business may have anywhere from just a few to a dozen or more employees.
According to PayScale, a baker at a bagel shop makes an average wage of $11.24 an hour.
A cashier who doesn’t bake bagels earns about $8.85 per hour.
Other employees’ wages may range between these two figures,
Depending on the level of responsibility that an employee has.
Typical Tortilla Market Startup
14. Know How Much Can You Charge Customers
An article by Serious Eats looked at the price of a bagel at several bagel chains in New York (and Dunkin’ Donuts).
A plain bagel ranged in price from $1.80 to $3.00, and a bagel with cream cheese ranged from $1.65 to $4.50.
Prices elsewhere might be slightly lower, as New York City is known both for its bagels and high prices.
The other foods and beverages sold by bagel shops.
Such as fresh fruit, yogurt, coffee and tea usually cost about the same as a bagel or a bagel with cream cheese.
Read: 8 Top Truck/Vendor Food Business in Nigeria
Typical Tortilla Market Startup
15. Know The Ongoing Expenses For The Business
The ongoing expenses for a bagel business include rent, licensing fees, employees’ salaries, costs for bagel-making supplies and other foods, costs for beverages, and costs for serving supplies.
16. Know How Much Profit Can Make
How much a bagel shop business can make depends on how many customers a business serves in a day, week, month or year.
For this reason, location selection is extremely important when starting up a bagel shop.
In order to succeed, a shop should be located in a busy area.
Typical Tortilla Market Startup
17. Learn on How Make Your Business More Profitable
A bagel shop business can increase its profitability by upselling customers.
Featuring bagel sandwiches, which sell for more than a bagel with cream cheese,
And offering other options, like espresso beverages and granola, can increase the average ticket price.
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